There are folks (Thomas Friedman) who have urged/ would like to urge growing economies to innovate away from a system which lacks a solid mass transport system. Innovation requires creating an environment that would support it:
The game theorist in me expects- in a worst case scenario- a global energy innovation race, where countries devote energies into finding alternate globs of black gold/ alternate energy sources. Outcomes of any such race are often not certain. There is also a possibility that some growing economies (don't forget Africa) may not be in the position to constructively participate, contribute and gain from this race.
We might also develop feasible alternative energy solutions early enough to preempt most of the environmental, economic and social crises. I hope we do.